Which of the Following Statements About an Excess Insurance Plan

question 2

Multiple Choice

Which of the following statements about an excess insurance plan is true?

• A)The insurer does not participate in a loss until it exceeds the amount the firm has decided to retain.
• B)The insurer pays first up to some specified level; the insured then pays all losses exceeding the insurer's retention level.
• C)Losses in excess of a specified amount are not covered.
• D)The insured and insurer share equally in any loss that occurs.

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Definitions:

Leader Personality

The set of personal qualities and traits that influence a leader's effectiveness in guiding and influencing their followers.

Charisma

A personal attribute that enables an individual to attract, influence, and inspire others through their presence, speech, or actions.

Consideration

Leader behavior aimed at nurturing friendly, warm working relationships as well as encouraging mutual trust and interpersonal respect within the work unit.

Moderate Risk

A level of risk that is considered to be within an acceptable range for investment or action, balancing potential loss against potential gain.